Parents are spending lots of money on their children’s sports activities. TD Ameritrade has released their newest survey and the results are detailed in an article from USA Today and the data is amazing.
Most American families (63%) spend anywhere from $100 to $499 per child each month on youth sports, TD Ameritrade found. Another 18% fork over $500 to $999 monthly. Roughly one in 10 (11%) spend $1,000 to $1,999. On the high end, 8% said they spend $2,000 per month or more, or $24,000-plus per year.
All that spending on sports crimps other parts of their lives, the survey found, with 55% saying they “cut back on entertainment,” 40% saying they “take fewer vacations,” and 23% admitting they have “cutback on money set aside for retirement.”
Take four minutes and read the whole article. I’ll post the full data when I track it down.